Bank Pictet & Cie Europe AG Sells 275 Shares of Lockheed Martin Co. (NYSE:LMT)

Bank Pictet & Cie Europe AG trimmed its stake in Lockheed Martin Co. (NYSE:LMT) by 13.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,745 shares of the aerospace company’s stock after selling 275 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Lockheed Martin were worth $780,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Lockheed Martin by 51.7% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,528 shares of the aerospace company’s stock worth $4,630,000 after acquiring an additional 3,247 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Lockheed Martin in the fourth quarter worth $33,294,000. Private Advisor Group LLC lifted its holdings in shares of Lockheed Martin by 11.0% during the fourth quarter. Private Advisor Group LLC now owns 51,253 shares of the aerospace company’s stock valued at $24,906,000 after purchasing an additional 5,075 shares in the last quarter. State of Wyoming lifted its holdings in shares of Lockheed Martin by 93.9% during the fourth quarter. State of Wyoming now owns 1,113 shares of the aerospace company’s stock valued at $541,000 after purchasing an additional 539 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Lockheed Martin by 3.9% during the fourth quarter. Treasurer of the State of North Carolina now owns 102,674 shares of the aerospace company’s stock valued at $49,893,000 after purchasing an additional 3,809 shares in the last quarter. 74.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LMT shares. Melius Research downgraded Lockheed Martin from a “strong-buy” rating to a “hold” rating in a report on Monday, March 24th. UBS Group upped their price objective on Lockheed Martin from $481.00 to $499.00 and gave the company a “neutral” rating in a research report on Wednesday, April 23rd. Baird R W upgraded Lockheed Martin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on Lockheed Martin from $476.00 to $432.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, Melius lowered Lockheed Martin from a “buy” rating to a “hold” rating in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $541.80.

Lockheed Martin Stock Up 3.5%

Lockheed Martin stock opened at $485.75 on Monday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.13 and a quick ratio of 0.95. The stock has a market capitalization of $113.81 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 2.07 and a beta of 0.29. Lockheed Martin Co. has a 1-year low of $418.88 and a 1-year high of $618.95. The business has a fifty day moving average price of $470.72 and a 200-day moving average price of $469.65.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, April 22nd. The aerospace company reported $7.28 EPS for the quarter, topping analysts’ consensus estimates of $6.34 by $0.94. Lockheed Martin had a return on equity of 101.47% and a net margin of 7.51%. The company had revenue of $17.96 billion during the quarter, compared to analysts’ expectations of $17.83 billion. Equities research analysts forecast that Lockheed Martin Co. will post 27.15 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 2nd will be issued a $3.30 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $13.20 annualized dividend and a dividend yield of 2.72%. Lockheed Martin’s dividend payout ratio (DPR) is presently 57.02%.

About Lockheed Martin

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.